Monarch secures funding...

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richardw
richardw Posts: 19,458 Forumite
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in Overseas holidays & travel planning
.....http://blog.monarch.co.uk/165-million-investment-in-monarch/

Btw there are some very cheap monarch flights departing in the next few weeks, excluding half term, could be good if you fancy a break, always double check other airlines before booking.
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  • Westin
    Westin Posts: 5,942 Forumite
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    The announcement was VERY CLOSE the the wire....
  • richardw
    richardw Posts: 19,458 Forumite
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    It was, something to avoid in September 17.
    Posts are not advice and must not be relied upon.
  • Gloomendoom
    Gloomendoom Posts: 16,550 Forumite
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    Westin wrote: »
    The announcement was VERY CLOSE the the wire....

    I don't see that as relevant. They knew how much time they had and they used it.
  • I_Love_comps
    I_Love_comps Posts: 2,295 Senior Ambassador
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    According to the news they can operate for another 12 months.
    I am a Senior Ambassador on the Competitions Time Board and the Old Style MoneySaving Board.
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  • SW17
    SW17 Posts: 858 Forumite
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    edited 12 October 2016 at 11:07AM
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    Good news for their staff and customers. I would imagine the delay was Greybull getting funding from the banks, they are unlikely to be using their own money. Their ATOL will be valid another 12 months, but they still have underlying challenges in that business.

    At least my flight with them tonight will operate, I wonder how full the aircraft will be...
  • interstellaflyer
    interstellaflyer Posts: 2,053 Forumite
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    Also announced that they are replacing their current fleet with new Boeing 737 K8s which apparently are massively less expensive to maintain and more fuel effecient, I guess they mean the fleet of Airbus 320 and 321s, a bit of a strange move not to go with current gereation Aibus models.
    I hate football and do wish people wouldn't keep talking about it like it's the most important thing in the world
  • christaitfife
    christaitfife Posts: 168 Forumite
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    The anouncment wasn't very close.

    In real terms the likelyhood of Monarch failing was small due to their ownership. Sadly, this didn't mean that newspapers would not try to exploit the situation for a sensationalised story and wory customers in the progress.

    I think if you look at what actually happened, it basically turns out that the order with Boening was restructured, more finance was injected and some costs lowered. his really was just a case of a company trying to gain the upper hand. And it worked.
  • jaybeetoo
    jaybeetoo Posts: 1,337 Forumite
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    The well publicised problems of the last month will not have done their cash flow any favours.
  • martindow
    martindow Posts: 10,218 Forumite
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    christaitfife wrote: »
    The anouncment wasn't very close.

    In real terms the likelyhood of Monarch failing was small due to their ownership. Sadly, this didn't mean that newspapers would not try to exploit the situation for a sensationalised story and wory customers in the progress.
    If so, it makes it all the more strange that they left it until the last minute to get the finance in place to renew their licence.

    People's perceptions of a company can have a powerful effect on its future. This poor publicity seems to be entirely of Monarch's making.
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